Visions Federal Credit Union has launched a new feature for members to buy, hold, and sell Bitcoin. New York-based Visions, in a partnership with NYDIG, becomes one of the first credit unions to offer members an integrated platform for managing digital assets.
Digital asset investment products saw the biggest weekly inflows of 2022 with $127 million last week. The positive sentiment was concentrated in North America with inflows totaling $151 million, whereas Europe experienced outflows of $24 million.
Coinbase has said it has blocked over 25,000 addresses related to Russian individuals or entities thought to be affiliated with illicit activity, adding that these accounts were identified through its own "proactive investigations" and that the addresses have been shared with the U.S. government to "further support sanctions enforcement."
Digital assets have helped Ukraine acquire important supplies, such as fuel, food, bulletproof vests and night-vision goggles from venders that accept crypto as payment. The operation involves Kuna, the Ukrainian exchange that set up the donation addresses and made important connections to government officials. So far the effort has raised over $60 million in bitcoin, ether and other cryptos.
The Dow Jones Industrial Average dropped about 800 points into correction territory to start the trading week, as surging oil prices deepened concerns about economic growth. The S&P 500 dropped 2.95%, bringing its 2022 decline to almost 12%. The Nasdaq Composite lost 3.6% and is down 18% year-to-date.
The Russian invasion is shaking up raw-material markets because the region is a heavyweight supplier to many geographic areas, while Ukraine is a top grain exporter. The potential for extended volatility looms as the U.S. discusses a possible embargo on Russian oil, which could pose fresh challenges for central bankers.
Oil prices jumped on Monday to their highest levels in 14 years, as the U.S. and European allies considered banning Russian oil imports while it looked less likely that Iranian crude would return quickly to global markets. Brent rose 4.3%, to settle at $123.21 a barrel, and U.S. West Texas Intermediate rose 3.2%, to settle at $119.40 a barrel.
China’s strong export momentum eased in the first two months of 2022. As the pandemic-driven global demand for goods made in China fades, adding pressure on policy makers consider further stimulus. Exports in January and February rose 16.3% in dollar terms from a year earlier to $544.7 billion, however it still marked a slowdown from the 20.9% year-over-year increase in December.